tape reading
- Thread starter darren
- Start date
Wycckoff is the only book I know of that describes in any detail (at all) the old style tape reading. Ticker Technique the art of Tape Reading O.D. Foster is not going to give you the down and dirty on reading the tape but it is a good book on general market craft.
My tape reading is operating in an emerging market and looking for activity in previousy quiet stocks or something that should not be there. Even if you know exactly how a stock is worked, knowing where we are in that process is difficult, at least for me. there are people who trade this way - the key, as per Wyckoff, is to immediately sell/cut loss when momentum stalls. I use the tape to alert me to the beginning of a breakout and look to ride a longer term move i.e 2-300% over 1-16 weeks. The chart has to confirm the tape Look for Maverick74's thread on NYSE tape reading but note he no longer trades this way, neither did Wyckoff or Livermore as they gained experience.
My tape reading is operating in an emerging market and looking for activity in previousy quiet stocks or something that should not be there. Even if you know exactly how a stock is worked, knowing where we are in that process is difficult, at least for me. there are people who trade this way - the key, as per Wyckoff, is to immediately sell/cut loss when momentum stalls. I use the tape to alert me to the beginning of a breakout and look to ride a longer term move i.e 2-300% over 1-16 weeks. The chart has to confirm the tape Look for Maverick74's thread on NYSE tape reading but note he no longer trades this way, neither did Wyckoff or Livermore as they gained experience.
Great book, I have it. Master the Markets from Tom Williams is superb too. You can get the original from him, which is poorly edited, but apparently contains info omitted in the Master the Markets. Start following this thread Sebastian is kind enough to donate his time and he is one of the best, taught years ago by Tom Williams himself. I have been studying tape reading for the last 6 weeks and it has improved my trading quite a bit. You can do it the old fashioned way like Wyckoff did reading time and sales, ticker tape back then, or you can do it with price and volume, which I prefer. DB phoenix is active on trade2win dot com, he just got tired of the flame war BS on this forum. A great person he is.
Start here with VSA trader aka Sebastian's thread http://elitetrader.com/vb/showthread.php?s=&threadid=108364&highlight=VSA+trader
Here is the link to Williams' original book http://www.tradetowin.com/default/intro.php
http://www.elitetrader.com/vb/showt...73&perpage=6&highlight=live chat&pagenumber=1
88 pages for you.....Merry Christmas
88 pages for you.....Merry Christmas
